Source of Funds for Purchase of Bonds Sample Clauses

Source of Funds for Purchase of Bonds. Funds for the payment of the Purchase Price of tendered Bonds shall be derived solely from the following sources in the order of priority indicated and neither the Trustee nor the Remarketing Agent shall be obligated to provide funds from any other source: (a) proceeds of the remarketing of Bonds to persons other than the Company, the affiliates of the Company and the Authority and furnished immediately to the Trustee by the Remarketing Agent and deposited directly into and held continuously in, the Remarketing Proceeds Account; and (b) money provided by the Company or otherwise available for the payment of the purchase price, and proceeds from the investment thereof. In no event shall the Purchase Price of tendered Bonds, including a mandatory tender resulting from the conversion of an interest rate mode on the Bonds, be payable under the Bond Insurance Policy.
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Source of Funds for Purchase of Bonds. By the close of business on the date on which a Bond is to be purchased, and except as set forth in Section 518(b)(ii) hereof, the Tender Agent shall purchase tendered Bonds from the tendering Owners at the applicable Purchase Price by wire transfer in immediately available funds. Funds for the payment of such Purchase Price shall be derived solely from the following sources in the order of priority indicated and none of the Tender Agent, the Trustee nor the Remarketing Agent shall be obligated to provide funds from any other source: (a) immediately available funds on deposit in the Remarketing Proceeds Account; (b) immediately available funds on deposit in the Liquidity Facility Purchase Account; (c) Available Moneys of the Company; and (d) Other moneys of the Company.
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Source of Funds for Purchase of Bonds. On the Mandatory Purchase Date the Issuer shall purchase (but solely from funds set forth below) the Bonds tendered (or deemed tendered) for purchase in accordance with this Section at the applicable Purchase Price. Funds for the payment of the Purchase Price for such Bonds shall be paid by the Issuer solely from moneys furnished by the Borrower and available for such purpose.
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Source of Funds for Purchase of Bonds. (a) On the date on which Bonds are to be delivered for purchase pursuant to this Article III, the Paying Agent shall purchase, but only from the sources listed below and only after the Paying Agent has sufficient funds available, such Bonds from the Owners thereof at the Purchase Price (unless such Bonds are being redeemed on such date pursuant to Section 7.01 hereof). Funds for the payment of the Purchase Price shall be derived solely from the following sources in the order of priority indicated and none of the Remarketing Agent, the Paying Agent or the Trustee shall be obligated to provide funds from any other source: (i) amounts received by the Paying Agent, by 11:00 a.m., New York City time (1:00) p.m., New York City time, for Bonds in a Daily Mode), on the Purchase Date representing proceeds of the sale of such Bonds by the Remarketing Agent; (ii) monies furnished by the Liquidity Facility Provider under the Liquidity Facility; and (iii) monies furnished by the Issuer. Bonds, the Purchase Price of which is paid for with funds drawn on the Liquidity Facility pursuant to this Section, shall be registered to the Liquidity Facility Provider, or its designee, by the Trustee (whether or not such Bonds are delivered by the tendering Bondowner) and shall be “Purchased Bonds”. Bonds, the Purchase Price of which is paid for initially by the Liquidity Facility but reimbursed with funds provided by the Issuer to the Liquidity Facility Provider, and Bonds purchased with monies furnished by the Issuer pursuant to Section 3.14 shall be registered in the name of the Issuer by the Trustee and shall be “Issuer Bonds”. Issuer Bonds shall be held by the Trustee for the account of such Issuer until transferred pursuant to Section 3.11 or canceled pursuant to instructions of the Issuer. Issuer Bonds and Purchased Bonds shall not be subject to optional or mandatory tender for purchase, but Purchased Bonds are subject to redemption as provided hereunder. (b) If the Paying Agent is unable to purchase any Bond tendered for purchase pursuant to Section 3.06 or 3.07, or subject to mandatory purchase pursuant to Section 3.01, 3.02 or 3.03 because sufficient funds are not available therefor from the sources indicated in Section 3.12(a), no purchase of any Bonds shall occur on that date and all Bonds subject to purchase shall be returned by the Paying Agent to their Owners and such failure shall be a default hereunder pursuant to Section 8.01(c) hereof. Such Owners shall not relinq...
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Source of Funds for Purchase of Bonds. Funds for the payment of the Purchase Price of tendered Bonds shall be derived solely from the following sources in the order of priority indicated and neither the Trustee nor the Remarketing Agent shall be obligated to provide funds from any other source: (a) proceeds of the remarketing of Bonds to persons other than the Company, the affiliates of the Company and the Authority and furnished immediately to the Trustee by the Remarketing Agent and deposited directly into and held continuously in, the Remarketing Proceeds Account; and (b) money provided by the Company or otherwise available for the payment of the Purchase Price, and proceeds from the investment thereof. The Company’s failure to provide funds for the purchase of Bonds when required by Section 4.06, this Section or the provisions of the Bonds shall constitute an Event of Default under Section 10.01(c)
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Source of Funds for Purchase of Bonds. On the date on which Bonds are to be purchased pursuant to Section 3.01, the Trustee will purchase such Bonds from the Owners thereof at the Purchase Price. Funds for the payment of such Purchase Price will be derived solely from the following source in order of priority indicated and neither the Issuer, the Company, the Trustee, the Paying sources in the Agent nor the Remarketing Agent will be obligated to provide funds from any other source: (a) Remarketing Proceeds; (b) Available Moneys (other than a draw under the Credit Facility or the Confirmation Letter, if applicable) held by the Trustee, the Paying Agent or the Remarketing Agent and available for such purpose, but only if the Company directs that such moneys be so used; (c) proceeds derived from a drawing under the Credit Facility; and (d) proceeds derived from a drawing under the Confirmation Letter, if applicable. In the event funds from the sources described in subsections (a) and (b) above are not sufficient to provide for the Purchase Price of all Bonds to be purchased pursuant to Section 3.01, the Trustee, no later than 1:00 p.m. New York City time on the Business Day prior to each Purchase Date (whether such tender was optional or mandatory), shall draw on the Credit Facility or in accordance with the terms of an Alternate Credit Facility to purchase the Bonds required to be purchased pursuant to Section 3.01. In the event that the Credit Provider refuses to honor a draw on the Credit Facility made in accordance with the provisions of this Indenture by 3:00 p.m. New York time on the day in which such draw is made by the Trustee, the Trustee shall draw on the Confirmation Letter, if any, then in effect by 10:00 a.m. New York time, on the applicable Purchase Date.
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Source of Funds for Purchase of Bonds. By the close of business on the Purchase Date or the Mandatory Purchase Date, as the case may be, the Trustee shall purchase tendered Bonds from the tendering Owners at the Purchase Price by wire transfer of immediately available funds. Funds for the payment of such Purchase Price shall be derived solely from the following sources in the order of priority indicated and neither the Trustee nor the Remarketing Agent shall be obligated to provide funds from any other source: (a) immediately available funds on deposit in the Remarketing Proceeds Account; and (b) unless it is otherwise required in the Agreement that the related Purchase Price shall be paid solely with remarketing proceeds, from immediately available funds on deposit in the Borrower Purchase Account pursuant to Section 3.10(b) hereof.
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Related to Source of Funds for Purchase of Bonds

  • Purchase of Bonds The Company may at any time, and from time to time, furnish moneys to the Trustee accompanied by a notice directing such moneys to be applied to the purchase of Bonds in accordance with the provisions of the Indenture delivered pursuant to the Indenture, which Bonds shall, at the direction of the Company, be delivered in accordance with Section 3.06(a)(ii) of the Indenture.

  • Purchase of Notes The Company will not and will not permit any Affiliate to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding Notes except upon the payment or prepayment of the Notes in accordance with the terms of this Agreement and the Notes. The Company will promptly cancel all Notes acquired by it or any Affiliate pursuant to any payment, prepayment or purchase of Notes pursuant to any provision of this Agreement and no Notes may be issued in substitution or exchange for any such Notes.

  • Re-Purchase of Note If we decide that you provided us with inaccurate information or have otherwise violated your obligations, or if required by any applicable law or regulation related to terrorism, money laundering, and similar activities, we may (but shall not be required to) repurchase your Note for an amount equal to the principal amount outstanding.

  • Repurchase of Notes Neither the Company nor any Consolidated Subsidiary or Affiliate, directly or indirectly, may repurchase or make any offer to repurchase any Notes unless an offer has been made to repurchase Notes, pro rata, from all holders of the Notes at the same time and upon the same terms. In case the Company repurchases or otherwise acquires any Notes, such Notes shall immediately thereafter be canceled and no Notes shall be issued in substitution therefor. Without limiting the foregoing, upon the repurchase or other acquisition of any Notes by the Company, any Consolidated Subsidiary or any Affiliate, such Notes shall no longer be outstanding for purposes of any section of this Agreement relating to the taking by the holders of the Notes of any actions with respect hereto, including without limitation, SECTION 6.3, SECTION 6.4 and SECTION 7.1.

  • Purchase of Note On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees to purchase from the Company such principal amount of Note as is set forth immediately below the Buyer’s name on the signature pages hereto.

  • Advance of Funds by Seller After origination, no advance of funds has been made by Seller to the related Mortgagor other than in accordance with the Mortgage Loan documents, and, to Seller’s knowledge, no funds have been received from any person other than the related Mortgagor or an affiliate for, or on account of, payments due on the Mortgage Loan (other than as contemplated by the Mortgage Loan documents, such as, by way of example and not in limitation of the foregoing, amounts paid by the tenant(s) into a lender-controlled lockbox if required or contemplated under the related lease or Mortgage Loan documents). Neither Seller nor any affiliate thereof has any obligation to make any capital contribution to any Mortgagor under a Mortgage Loan, other than contributions made on or prior to the date hereof.

  • Payment of Funds No federal appropriated funds have been paid or will be paid by or on behalf of the parties to any person for influencing or attempting to influence an officer or employee of any federal agency, a Member of Congress, an officer or employee of Congress, or an employee of a Member of Congress in connection with the awarding of any federal contract, the making of any federal grant, the making of any federal loan, the entering into of any cooperative agreement, and the extension, continuation, renewal, amendment, or modification of any federal contract, grant, loan, or cooperative agreement.

  • Issuance of Bonds Subject to the satisfaction of and compliance with all of the provisions, covenants and requirements of this Agreement, in order to provide funds for the payment of the Project Costs, the Issuer has authorized the issuance and delivery of the Bonds to the Initial Purchaser in accordance with the Indenture.

  • SALE AND PURCHASE OF NOTES Subject to the terms and conditions of this Agreement, the Company will issue and sell to each Purchaser and each Purchaser will purchase from the Company, at the Closing provided for in Section 3, Notes in the principal amount specified opposite such Purchaser’s name in Schedule A at the purchase price of 100% of the principal amount thereof. The Purchasers’ obligations hereunder are several and not joint obligations and no Purchaser shall have any liability to any Person for the performance or non-performance of any obligation by any other Purchaser hereunder.

  • Issuance and Purchase of the Notes (a) Delivery of the Funding Agreement and the Guarantee to the Custodian, on behalf of the Indenture Trustee, pursuant to the Assignment or execution of the cross receipt contained in the Closing Instrument shall be confirmation of payment by the Trust for the Funding Agreement. (b) The Trust hereby directs the Indenture Trustee, upon receipt by the Custodian, on behalf of the Indenture Trustee, of the Funding Agreement pursuant to the Assignment and upon receipt by the Custodian, on behalf of the Indenture Trustee, of the Guarantee, (i) to authenticate the certificates representing the Notes (the “Notes Certificates”) in accordance with the Indenture and (ii) to (A) deliver each relevant Notes Certificate to the clearing system or systems identified in each such Notes Certificate, or to the nominee of such clearing system, or the custodian thereof, for credit to such accounts as the Purchasing Agent may direct, or (B) deliver each relevant Notes Certificate to the purchasers thereof as identified by the Purchasing Agent.

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